Avino Q3/September Production Report
October 15 2013 - 8:00AM
Marketwired Canada
Avino Silver & Gold Mines Ltd. ("Avino" or "the Company") (TSX VENTURE:ASM)(NYSE
MKT:ASM)(FRANKFURT:GV6) is pleased to announce the Q3 and September 2013
production results from its San Gonzalo Mine and the Avino Mine surface
stockpile operations located on the Avino property near Durango, Mexico.
Production numbers from Q3 2013 compared to Q2 2013 are presented below:
-------------------------------------
Q2 2013 Q3 2013 % Change
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Total Silver Produced (oz) calculated 175,166 178,651 1.99
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Total Gold Produced (oz) calculated 786 869 10.6
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"I am very pleased with this quarter's results, as they continue to demonstrate
the consistency and reliability of our operation. I would like to thank both our
mine and front office staff for their continued hard work and dedication. We
have now been in commercial production at San Gonzalo for a full year and remain
committed to our objectives of mine optimization, cost reduction and increased
production."
- David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
September production from San Gonzalo and the Avino Mine surface stockpiles are
presented below:
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Total
Mill Feed Feed
Feed Grade Grade Recovery Recovery
Days of (metric Silver Gold Silver Gold
Operation tonnes) (g/t) (g/t) (%) (%)
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San Gonzalo
(Circuit 1) 29 6,301 277 1.27 83 75
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Avino Mine
Surface Stock
Piles
(Circuit 2) 29 6,583 85 0.85 67 53
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12,884
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Total Total Total YTD
Silver Gold Silver Eq. Silver
Produced Produced Produced Eq.
(oz) (oz) (oz) Produced
Calculated Calculated Calculated Calculated
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San Gonzalo
(Circuit 1) 46,579 192 59,073 558,858
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Avino Mine
Surface Stock
Piles
(Circuit 2) 12,129 95 18,329 85,849
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58,708 287 77,402 644,707
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Silver equivalent was calculated using a 65:1 ratio for silver to gold. Mill
production figures have not been reconciled and are subject to adjustment with
concentrate sales. Year-to-date and calculated figures may not add up due to
rounding.
San Gonzalo
Production numbers from July through September 2013 at San Gonzalo, as well as
2013 yearly totals are reported as follows:
--------------------------------------------
Monthly
Change
July-13 Aug-13 Sept-13 % YTD SG
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Total Mill Feed (dry tonnes) 6,372 6,678 6,301 (5.6) 59,061
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Average Daily Throughput (tpd) 212 223 217 (2.7) 224
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Days of Operation 30 30 29 (3.3) 263
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Feed Grade Silver (g/t) 285 283 277 (2.1) 290
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Feed Grade Gold (g/t) 1.31 1.51 1.27 (15.9) 1.29
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Bulk Concentrate (dry tonnes) 207 200 203 1.5 1,815
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Bulk Concentrate Grade Silver
(kg/t) 7.25 7.99 7.15 (10.5) 7.79
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Bulk Concentrate Grade Gold
(g/t) 29.6 37.5 29.5 (21.3) 30.5
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Recovery Silver (%) 82 85 83 (2.4) 83
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Recovery Gold (%) 73 75 75 0 73
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Mill Availability (%) 91.8 96.0 97.7 1.8 95.7
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Total Silver Produced (kg) 1,497 1,602 1,449 (9.6) 14,143
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Total Gold Produced (g) 6,111 7,514 5,979 (20.4) 55,328
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Total Silver Produced (oz)
calculated 48,131 51,505 46,579 (9.6) 454,718
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Total Gold Produced (oz)
calculated 196 242 192 (20.4) 1,779
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Total Silver Equivalent Produced
(oz) 60,903 67,208 59,073 (12.1) 558,858
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Silver equivalent was calculated using a 65:1 ratio for silver to gold. Mill
production figures have not been reconciled and are subject to adjustment with
concentrate sales. Year-to-date and calculated figures may not add up due to
rounding.
September Highlights
-- Silver and gold production in September was lower than in August mainly
due to the lower grade of the material treated.
-- Tonnage processed was also lower due to one less operating day even
though mill availability was improved.
-- There was no change in the gold recovery; silver recovery was slightly
lower due to the lower grade feed treated.
Circuit 2 - Avino Mine Stock Piles
Circuit 2's production numbers from April through September are presented below,
as well as yearly totals:
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Monthly
Apr May June July Aug Sept Change YTD
2013 2013 2013 2013 2013 2013 % 2013
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Total mill
feed - (dry
tonnes) 4,040 5,917 6,324 5,922 5,774 6,583 14.0 34,560
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Days of
Operation 19 30 29 30 28 29 3.6 165
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Feed grade
Silver - g/t 73 84 78 89 78 85 9.0 82
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Feed grade
Gold - g/t 0.79 0.70 0.84 0.83 0.63 0.85 34.9 0.78
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Bulk
concentrate
- (dry
tonnes) 49.84 66.05 84.42 80.52 48.53 80.99 66.9 410.35
----------------------------------------------------------------------------
Bulk
Concentrate
Grade Silver
(kg/t) 3.977 4.833 3.509 4.310 5.865 4.658 (20.6) 4.442
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Bulk
Concentrate
Grade Gold
(g/t) 35.30 32.19 32.20 32.74 38.11 36.63 (3.9) 34.25
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Recovery
Silver (%) 67 64 60 66 63 67 6.3 65
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Recovery Gold
(%) 55 51 51 54 51 53 3.9 52
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Mill
availability
(%) 63 83 96 87 84 97 15.5 90
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Total Silver
Produced
(oz)
calculated 6,373 10,264 9,525 11,156 9,151 12,129 32.5 58,599
----------------------------------------------------------------------------
Total Gold
Produced
(oz)
calculated 57 68 87 85 59 95 61 452
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Total Silver
Eq. Produced
(oz)
calculated 9,484 14,023 14,332 16,665 13,016 18,329 40.8 85,849
----------------------------------------------------------------------------
Silver equivalent for April through June was calculated using a 55:1 ratio
for silver to gold, for the months of July, August and September a 65:1
ratio was used. (The ratio was changed to reflect more current gold and
silver prices.) Mill production figures have not been reconciled and are
subject to adjustment with concentrate sales. Year-to-date and calculated
figures may not add up due to rounding.
September Highlights
-- Silver and gold production in September increased significantly compared
to August due to the higher volume of tonnage processed, plant
availability, and slightly better feed grades and recoveries.
-- Concentrate grades were down slightly.
Mine Update
At San Gonzalo, underground mine development is ongoing. The ramp from level 5
to level 6 has 55 metres remaining before the elevation of level 6 is reached;
another 20 metres of crosscut remain until the vein on level 6 is intersected.
The larger pumps and 6 inch pipes ordered to remove the excess water inflows in
the ramp have been installed and are operating. Delays in the ramp advance have
now been resolved.
The extraction drift to the northwest on level 5 is almost complete with 3 draw
points remaining.
During the month, 6 truckloads of San Gonzalo concentrates weighing 214 wet
metric tonnes and 2 truckloads of Avino stockpile concentrate weighing 59 tonnes
were shipped to Manzanillo.
Avino is also pleased to report it has signed a long-term agreement for the sale
of the San Gonzalo concentrates. Terms are significantly better than the
existing contract that expired last month. The new agreement lasts until the end
of 2014.
Quality Assurance/Quality Control
Mill assays are performed at the mine's on-site lab. Check samples are verified
by Inspectorate Labs in Reno, Nevada. San Gonzalo concentrate shipments are
assayed at AH Knight in Manzanillo, Mexico. The Avino stockpile concentrate
shipments are assayed at LSI in Rotterdam, Netherlands.
Qualified Person(s)
Avino's projects are under the supervision of Chris Sampson, P.Eng, BSc, Avino
Consultant and Mr. Jasman Yee P.Eng, Avino director. Both of whom are qualified
persons within the context of National Instrument 43-101. The qualified persons
have reviewed and approved the technical data in this news release.
About Avino
Avino's mission is to create shareholder value through profitable organic growth
at the Avino property. We are committed to managing all business activities in
an environmentally responsible and cost-effective manner while contributing to
the well-being of the community in which we operate.
Management remains focused on the following key objectives:
1. Maintain profitable mining operations at San Gonzalo while decreasing
operating costs and improving efficiency;
2. Develop the Avino mine for mineral production;
3. Continue to review and develop plans to process the oxide tailings
resource from previous milling operations (PEA issued in 2012);
4. Continue to explore regional targets on the property and consider
acquisition opportunities.
ON BEHALF OF THE BOARD
David Wolfin, President & CEO
Avino Silver & Gold Mines Ltd.
Safe Harbor Statement - This news release contains "forward-looking information"
and "forward-looking statements" (together, the "forward-looking statements")
within the meaning of applicable securities laws and the United States Private
Securities Litigation Reform Act of 1995, including our belief as to the extent
and timing of various studies including the PEA, and exploration results, the
potential tonnage, grades and content of deposits, timing and establishment and
extent of resources estimates. These forward-looking statements are made as of
the date of this news release and the dates of technical reports, as applicable.
Readers are cautioned not to place undue reliance on forward-looking statements,
as there can be no assurance that the future circumstances, outcomes or results
anticipated in or implied by such forward-looking statements will occur or that
plans, intentions or expectations upon which the forward-looking statements are
based will occur. While we have based these forward-looking statements on our
expectations about future events as at the date that such statements were
prepared, the statements are not a guarantee that such future events will occur
and are subject to risks, uncertainties, assumptions and other factors which
could cause events or outcomes to differ materially from those expressed or
implied by such forward-looking statements.
Such factors and assumptions include, among others, the effects of general
economic conditions, the price of gold, silver and copper, changing foreign
exchange rates and actions by government authorities, uncertainties associated
with legal proceedings and negotiations and misjudgments in the course of
preparing forward-looking information. In addition, there are known and unknown
risk factors which could cause our actual results, performance or achievements
to differ materially from any future results, performance or achievements
expressed or implied by the forward-looking statements. Known risk factors
include risks associated with project development; the need for additional
financing; operational risks associated with mining and mineral processing;
fluctuations in metal prices; title matters; uncertainties and risks related to
carrying on business in foreign countries; environmental liability claims and
insurance; reliance on key personnel; the potential for conflicts of interest
among certain of our officers, directors or promoters of with certain other
projects; the absence of dividends; currency fluctuations; competition;
dilution; the volatility of the our common share price and volume; tax
consequences to U.S. investors; and other risks and uncertainties. Although we
have attempted to identify important factors that could cause actual actions,
events or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not
to be as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. We are under no obligation to update or alter any forward-looking
statements except as required under applicable securities laws.
Cautionary Note to United States Investors - The information contained herein
and incorporated by reference herein has been prepared in accordance with the
requirements of Canadian securities laws, which differ from the requirements of
United States securities laws. In particular, the term "resource" does not
equate to the term "reserve". The Securities Exchange Commission's (the "SEC")
disclosure standards normally do not permit the inclusion of information
concerning "measured mineral resources", "indicated mineral resources" or
"inferred mineral resources" or other descriptions of the amount of
mineralization in mineral deposits that do not constitute "reserves" by SEC
standards, unless such information is required to be disclosed by the law of the
Company's jurisdiction of incorporation or of a jurisdiction in which its
securities are traded. U.S. investors should also understand that "inferred
mineral resources" have a great amount of uncertainty as to their existence and
great uncertainty as to their economic and legal feasibility. Disclosure of
"contained ounces" is permitted disclosure under Canadian regulations; however,
the SEC normally only permits issuers to report mineralization that does not
constitute "reserves" by SEC standards as in place tonnage and grade without
reference to unit measures.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Avino Silver & Gold Mines Ltd.
David Wolfin
President & CEO
604.682.3701
604.682.3600 (FAX)
ir@avino.com
www.avino.com
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